Lamar Jackson will play the 2022 season on the fifth year of his rookie contract after he and the Ravens were unable to come to an agreement on a long term deal ahead of his self-imposed Friday deadline.
Jackson, the 2019 league MVP, is now set to hit free agency after the 2022 season. In a statement Friday morning, Ravens general manager Eric DeCosta said that the team plans to work towards a long-term agreement after the season, but confirmed that for the time being, negotiations have ended.
“Despite best efforts on both sides, we were unable to reach a contract extension with Lamar Jackson,” DeCosta said in the statement.
“We greatly appreciate how he has handled this process and we are excited about our team with Lamar leading the way. We will continue to work towards a long-term contract after the season, but for now we are looking forward to a successful 2022 campaign.”
Jackson is set to make $23.016 million on his fifth-year option in 2022. A few unique factors likely complicated his negotiation with Baltimore.
The 25-year-old signal caller represents himself, rather than utilizing an agent, a fact that has been the subject of some consternation as his long-term future with the Ravens remains uncertain. The market for quarterbacks has also exploded in recent years, with other young quarterbacks like Kyler Murray and Deshaun Watson signing historic contracts worth in excess of $230 million in total money in recent months. Neither is as accomplished as Jackson at this point in their careers.
The Ravens have to hope to sign Jackson to a long-term deal, but could also franchise tag him. Sports Illustrated‘s Albert Breer broke down the options that the team has for the quarterback when negotiations open back up.
Jackson and the Ravens open their 2022 season at the Jets on Sunday at 1 p.m. ET.
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